|
ARC Document Solutions, Inc. |
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|
Non-GAAP Measures |
||||||
|
Reconciliation of cash flows provided by operating activities to EBITDA and Adjusted EBITDA |
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|
(In thousands) |
||||||
|
(Unaudited) |
||||||
|
Three Months Ended |
||||||
|
March 31, |
||||||
|
2017 |
2016 |
|||||
|
Cash flows provided by operating activities |
$ |
6,942 |
$ |
5,303 |
||
|
Changes in operating assets and liabilities, net of effect of business acquisitions |
5,358 |
7,809 |
||||
|
Non-cash expenses, including depreciation and amortization |
(10,552) |
(10,484) |
||||
|
Income tax provision |
1,226 |
1,969 |
||||
|
Interest expense, net |
1,555 |
1,446 |
||||
|
Loss (income) attributable to the noncontrolling interest |
36 |
(54) |
||||
|
Depreciation and amortization |
8,254 |
7,990 |
||||
|
EBITDA |
12,819 |
13,979 |
||||
|
Loss on extinguishment of debt |
66 |
46 |
||||
|
Restructuring expense(1) |
— |
2 |
||||
|
Stock-based compensation |
737 |
772 |
||||
|
Adjusted EBITDA |
$ |
13,622 |
$ |
14,799 |
||
|
(1) In October 2012, we initiated a restructuring plan which included the closure or downsizing of the Company's service center locations, as well as a reduction in headcount. Restructuring expenses in 2016 primarily consist of revised estimated lease termination and obligation costs resulting from facilities closed in 2013. |
|
ARC Document Solutions, Inc. |
||||||
|
Non-GAAP Measures |
||||||
|
Reconciliation of net income attributable to ARC to unaudited adjusted net income attributable to ARC |
||||||
|
(In thousands, except per share data) |
||||||
|
(Unaudited) |
||||||
|
Three Months Ended |
||||||
|
March 31, |
||||||
|
2017 |
2016 |
|||||
|
Net income attributable to ARC Document Solutions, Inc. |
$ |
1,784 |
$ |
2,574 |
||
|
Loss on extinguishment of debt |
66 |
46 |
||||
|
Restructuring expense |
— |
2 |
||||
|
Income tax benefit related to above items |
(26) |
(19) |
||||
|
Deferred tax valuation allowance and other discrete tax items |
28 |
108 |
||||
|
Unaudited adjusted net income attributable to ARC Document Solutions, Inc. |
$ |
1,852 |
$ |
2,711 |
||
|
Actual: |
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|
Earnings per share attributable to ARC Document Solutions, Inc. shareholders: |
||||||
|
Basic |
$ |
0.04 |
$ |
0.06 |
||
|
Diluted |
$ |
0.04 |
$ |
0.05 |
||
|
Weighted average common shares outstanding: |
||||||
|
Basic |
45,639 |
46,608 |
||||
|
Diluted |
46,382 |
47,203 |
||||
|
Adjusted: |
||||||
|
Earnings per share attributable to ARC Document Solutions, Inc. shareholders: |
||||||
|
Basic |
$ |
0.04 |
$ |
0.06 |
||
|
Diluted |
$ |
0.04 |
$ |
0.06 |
||
|
Weighted average common shares outstanding: |
||||||
|
Basic |
45,639 |
46,608 |
||||
|
Diluted |
46,382 |
47,203 |
||||
